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Last Updated : Nov 20, 2017 10:57 AM IST | Source: CNBC-TV18

Buy Reliance Industries, Indo Count Industries, Ajanta Pharma, RBL Bank; sell Tata Motors: Sudarshan Sukhani

Sudarshan Sukhani of is of the view that one can buy Reliance Industries, Indo Count Industries, Ajanta Pharma and RBL Bank and can sell Tata Motors.

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Sudarshan Sukhani of told CNBC-TV18, "Indo Count Industries has completed its bear market, it has built a very attractive base and is now breaking out. Apart from the fact that it is a swing trading buy, you could also hold positions in it for a few weeks. This is a time when we want to build positions in anticipation of a two month rally."

"Ajanta Pharma has come in my buy list earlier. It is building a very attractive base. On Friday, that base breakout eventually took place. So, there is another opportunity to buy this stock. Much higher levels should be coming."

"Reliance Industries, the old favourite, is coming after a big decline and what may be a V-shaped rally. That is a buy."

"RBL Bank is not in the F&O segment, so, you have to actually pay cash to buy it. A lot of IPOs go up and then go into a huddle for month’s altogether. That is exactly what RBL Bank is doing. It is going into a trading range and that range should eventually break on the upside and be a very attractive trade. However, that is not F&O."

"Just to balance it out, Tata Motors is a short sell. There is nothing in that chart, we probably sell it anyway," he added.

"Biocon is a buy and it has been in my list repeatedly even after it gaps up and opens higher. Once it is stabilises, it is a buying opportunity for investor, for position traders; don’t miss it."

"NBFCs are not my favourite stocks still, but I have talked about RBL Bank. Even ICICI Prudential which is bottoming out, is a better opportunity here for me."

"Coal India, inspite of the early morning weakness, there is a buying opportunity there."

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
First Published on Nov 20, 2017 10:13 am
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